The affiliate marketing company has bought the Sweden-facing tipster brand for €4.7m.
Sweden.- Affiliate marketing company Acroud has completed its acquisition of Swedishsantas AB, the owner of tipster brand TheGamblingCabin.
Acroud will pay SEK47.3m (€4.7m) for all shares in the company, divided equally between cash and newly issued Acroud shares.
The deal contemplates a potential additional consideration based on EBITDA for the year April 2022 to March 31 2023.
TheGamblingCabin operates as a software-based tipster service that faces the Swedish market. It also provides video content for sports betting, poker and horse racing.
Acroud said the acquisition was a “clear strategic fit” for its business, with TheGamblingCabin strengthening its software-as-a-service (SaaS) offering and adding YouTube and Twitch to its wider offering.
Acroud president and chief executive Robert Andersson said: “This is the next step of the implementation of Acroud’s strategy to be the ‘Media House of the Future’ and a fast growing global player within streaming and software solutions for the media affiliation industry.”
TheGamblingCabin chief executive, Bengt Sonnert, said: “To become a part of Acroud was actually nothing that we even thought about initially, but the more we understood what Acroud is building it felt as an easy choice.
“They share our visions and provide us with new and greater possibilities to bring our business to the next level.”
Acroud reported revenue of €11.6m for 2020, a decline of 18.3 per cent year-on-year. Andersson put the downturn down to “regulative effects” as the company aims to target regulated markets.
Acroud recently bought PMG Group’s igaming assets as well as an unnamed sports betting business that it said had a strong position in emerging markets in Africa, Asia and Latin America.
Andersson said: “The acquisition together with the other recent acquisitions are together considered transformative and additive for each other. We are building a company where all parts complement each other.”
In other news from Sweden, The Swedish Gambling Authority, Spelinspektionen, has awarded a new five-year licence to Svenska Spel’s land-based casino subsidiary Casino Cosmopol.